FINANCIAL IMPLICATION YET TO BE EXAMINED: Wait for higher pension under EPS to be longer
Financial Express Mumbai|March 18, 2023
No clear timeframe for implementation by EPFO
SURABHI
FINANCIAL IMPLICATION YET TO BE EXAMINED: Wait for higher pension under EPS to be longer

THE WAIT FOR higher pension Pension under the Employees' Scheme could be longer than anticipated, as the Employees' Provident Fund Organisation (EPFO) has not worked out a clear timeframe by when it would be implemented.

The issue is understood to have been taken up at the recent meeting of a sub-committee of the EPFO's Central Board of Trustees (CBT).

Members of the sub-committee on pension implementation and Employees' Deposit Linked Insurance, in a meeting on March 15, are understood to have asked the EPFO on the status of the implementation of higher pension, based on a Supreme Court ruling, and expressed concerns over the "piecemeal"manner in which it was being done.

The EPFO has set May 3 as the deadline for submitting applications for opting for a higher pension under the EPS. Following this, it plans to individually examine all applications before informing subscribers of their eligibility.

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